Shares in online retailer Kogan.com Ltd (ASX: KGN) tumbled 16% to $7.71 this morning after the group posted an operating cash loss of $635,000 for the quarter ending March 31 2017.
Zooming out a little Kogan has posted operating cash inflows of $2.6 million for the first 9 months of the year, with the company attributing the weak Q3 cash flow to timing differences between receivables and payables.
The discounted consumer goods specialist also posted 46.1% revenue growth over the quarter, with 1.28 million active customers as at March 31 2018.
"The business is poised to continue its growth trajectory into the seasonally strong end-of-financial year quarter" its eponymous CEO boasted, although investors are now following his lead in dumping stock after a barnstorming run.
Kogan is a well run business, but the stock may see more volatility as it operates on thin margins with competition likely to heat up eventually.
